massive paycut

Avatar for turtleemom
iVillage Member
Registered: 07-25-2007
massive paycut
7
Mon, 06-22-2009 - 6:36pm

DH just received a pay cut as did all the other employees. We are down $1000 a month after taxes. Some people were let go (1/6 of the company). We are glad DH still has a job. Once things pick up again (hoping) he is suppose to receive lost pay and lost bonuses. DH really likes what he does, who he works with and who he works for so he wants to stick it out until the holidays before sending out resumes.

We go rid of Netflix, lowered his cell plan and checked a reconfigured out land line/cell/internet bill. So that saved $40 a month. He lowered the % into his 401. We already don't have cable or any other tv plan. Thankfully so much is on the internet and we watch via laptop to tv. We have drastically reduced the amount of eating out we do. I just canceled our credit card-they were going to up the interest and now I won't be tempted to use it. There were a couple of medical bills and I called to lower the monthly payments. DH cut DS's hair and I did DH's hair. DH has never had a buzz before:) He looks younger.

I am watching how I shop and using coupons. I am really planning out meals and snacks and watching impulse buys. It's been a challenge for me. Heather

iVillage Member
Registered: 12-13-2007
In reply to: turtleemom
Mon, 06-22-2009 - 6:49pm
Sounds like you're on the right track...
Photobucket
iVillage Member
Registered: 03-03-2004
In reply to: turtleemom
Mon, 06-22-2009 - 6:52pm

I'm so sorry, that's terrible.

Avatar for kathy_s14255
iVillage Member
Registered: 03-27-2003
In reply to: turtleemom
Tue, 06-23-2009 - 10:52am

So very sorry-$1000 paycut would be difficult for us. You are doing great though coming up with ways to cut the budget. Hope that things look up for his company. Hang in there!

Hugs
Kathy

Avatar for whiteroses67
iVillage Member
Registered: 11-10-2003
In reply to: turtleemom
Sun, 07-05-2009 - 1:59pm

I know how hard it is to have to take a massive pay cut. It's very difficult especially if you have to make drastic changes. I lost my job six weeks after I built my dream house and I couldn't even bear to think of selling it. I didn't have a choice though. It was hard to sign those papers to list my house knowing that sometime in the near future I wouldn't be living there anymore but everything worked out in the end. Honestly, it's not the end of the world if you have to sell your house and move into something smaller. You and your family will be fine.

Good luck.

Avatar for earnhardt_jr_fan
iVillage Member
Registered: 03-25-2003
In reply to: turtleemom
Sun, 07-05-2009 - 2:26pm

Have you contacted your local unemployment agency? A loss in hours/wages is often grounds for an unemployment claim. Meaning, if they cut your wages/hours by more than a certain percent you can file a claim with your state and receive unemployment benefits from the state to try and help fill the void left. It doesn't hurt to give it a try -- the worst they'll say is "no".


Until then, you seem to be doing a very good job cutting areas that can be cut. I'm sorry you're going through this -- but am glad your DH didn't get laid off.


Photobucket
iVillage Member
Registered: 07-26-1997
In reply to: turtleemom
Sun, 07-05-2009 - 2:54pm
You can make it work on what you got.

 

iVillage Member
Registered: 05-15-2009
In reply to: turtleemom
Mon, 07-06-2009 - 4:24pm
I'm sorry to hear this.